An application for funds to safeguard nearly 500 jobs at a pit near Nuneaton has been made to the government.

UK Coal has asked for &#xA3;11.3million to be invested in a project at Daw Mill Colliery, near Furnace End, that would keep 482 workers in jobs.

The money would go towards a scheme at Daw Mill, Warwick-shire's only remaining pit, to extract more than 30 million tonnes of coal.

New equipment is needed to cut a new coal face to the south of the M6 motorway.

The total cost of the project is &#xA3;41.1 million and, if the application is successful, &#xA3;11.3 million would be contributed by the Department of Trade and Industry through their Investment Aid scheme.

UK Coal has applied for &#xA3;79 million in total for eight sites across the country, including Daw Mill.

The company hopes to save more than 4,000 jobs at collieries in the Midlands, Yorkshire and the North East.

Chief executive Gordon McPhie said: "We have made applications for investment grant aid in respect of all eight deep mines which we will be operating post closure of the Selby complex."